Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

trust ownership

Read a random definition: evaluation agreement

A quick definition of trust ownership:

Trust ownership refers to the legal concept of a trust, which is a way of holding property for the benefit of someone else. When someone creates a trust, they transfer ownership of their property to a trustee, who manages it for the benefit of the trust's beneficiaries. Trust ownership can be used for many purposes, such as estate planning, asset protection, and charitable giving.

A trust receipt is a type of financing arrangement used in commercial transactions. It involves a lender or financier taking ownership of goods and then delivering them to a dealer or buyer on behalf of the lender. The dealer or buyer then takes possession of the goods and uses them to generate revenue. Once the lender's loan has been repaid, ownership of the goods is transferred to the dealer or buyer.

A more thorough explanation:

Trust ownership refers to the legal concept of holding property or assets in a trust, where the trustee manages the property for the benefit of the beneficiaries. This means that the trustee has legal ownership of the property, but is obligated to act in the best interests of the beneficiaries.

A trust receipt is a type of security device used in commercial transactions. It involves a receipt stating that the buyer has possession of the goods for the benefit of the financier. This allows the financier to have some control over the goods until the buyer has paid for them. For example, a car dealership may use a trust receipt to finance the purchase of a fleet of cars.

Another example of trust ownership is when a parent sets up a trust for their child's education. The parent may be the trustee, but the child is the beneficiary. The parent has legal ownership of the funds in the trust, but is obligated to use them for the child's education.

trust officer | trust relationship

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
sadperson4324
15:59
the magician is right
person4324
16:00
thank you
16:00
WOOOOOOOOOOOOOOOOOOOOOO
16:00
aweee what a good day this is
Applesaucer
16:00
WOOOOOOHOOOOOOOO
I’m out here healing ppl
fo pm miracle
16:29
fo p em
16:29
guys if I never chat again it is bc tornado got me
16:56
NOOO
is anyone else addicted to the uva law youtube videos
i think i just got into marquette law
late fo pm miracle?
this is crazy LMAO?
loyola why couldn't it be you
17:16
@badhorrormovie: !!! COngratzz
THANK u!!!!!!!!!
honestly considering just saying eff this cycle, retaking the lsat, switching jobs for a year and reapplying for 2026 start
back on linkedin premium wowza
i like the linkedin premium classes
taught myself excel on those
i gotta try those
haven't been making the most of my membership
anyone still waiting to hear back from bc today?
@badhorrormovie: congrats holy fuck!
NosyBeagle
18:19
@badhorrormovie: I knew you could do it! Good job!
18:50
unfortunately for chat, the tornado was unsuccessful in displaying me from this earth
19:56
damn
19:56
better luck next time
skill issue
LSD+ is ad-free, with DMs, discounts, case briefs & more.